To: Wharf Rat who wrote (1003289 ) 3/2/2017 10:53:26 AM From: Wharf Rat Respond to Chevron is first oil major to warn investors of risks from climate change lawsuitsunanimously agreed in the December 2015 Paris climate deal to leave most fossil fuels in the ground because of the existential threat they pose to human civilization.half a century .2016 10-K financial performance report to the Securities and Exchange Commission (SEC)?—?amid a discussion of how those pesky climate rules governments are enacting might hurt demand for its product?—?is this sentence: “In addition, increasing attention to climate change risks has resulted in an increased possibility of governmental investigations and, potentially, private litigation against the company.”50 years ago Big Oil bragged about being able to melt glaciers Naomi Ages , Greenpeace USA’s climate liability project lead, said this is the first time a major oil company admitted that such investigations and private litigation were “a material risk to the company and its shareholders.”what Exxon knew about climate change and what it told shareholders and the public.”The SEC investigation into how Exxon “ has valued its oil reserves in the wake of low prices and potential curbs on carbon emissions.”The class-action lawsuit against Exxon saying it failed “ to disclose the risks posed to its business by climate change” to inflate its stock price.Big Oil’s decades of lies and denial?—?and outright disinformation?—?about the existential risk posed by its products now appears to be catching up with it.media attention was focused on Shell’s 1991 film, Climate of Concern , which warned that the world was risking climate change “at a rate faster than at any time since the end of the ice age?—?change too fast perhaps for life to adapt, without severe dislocation.” And yet, the UK Guardian reports , over the next quarter-century, Shell still “invested heavily in highly polluting oil reserves and helped lobby against climate action.”thinkprogress.org
